Wheat is showing 3 to 5 cent gains so far on Thursday morning. The wheat complex posted mixed trade on Wednesday, with contracts weaker in the winter wheats and stronger in the spring wheats. Chicago SRW futures were 1 ¾ to 2 ¾ cents in the red. Open interest was up 7,754 contracts on the day. KC HRW futures were down 2 to 4 cents at the close to lead the bears. OI was down 385 contracts. MPLS spring wheat was the strongest of the three, up 1 to 2 cents.
USDA Export Sales data will be delayed until Friday morning due to the Monday holiday.
A widespread precip event from the Southern Plains to the East Coast is looking to add some moisture back to much of winter wheat country in the next week according to NOAA’s 7-day QPF.
Mar 26 CBOT Wheat closed at $5.07 3/4, down 2 1/2 cents, currently up 4 3/4 cents
May 26 CBOT Wheat closed at $5.19, down 2 3/4 cents, currently up 4 3/4 cents
Mar 26 KCBT Wheat closed at $5.19 3/4, down 3 1/4 cents, currently up 4 1/2 cents
May 26 KCBT Wheat closed at $5.30 3/4, down 3 3/4 cents, currently up 4 1/4 cents
Mar 26 MIAX Wheat closed at $5.64 3/4, up 1 3/4 cents, currently up 3 1/4 cents
May 26 MIAX Wheat closed at $5.75 1/4, up 1 3/4 cents, currently up 3 1/4 cents
